Common use of RISK AND TRANSFER OF TITLE Clause in Contracts

RISK AND TRANSFER OF TITLE. 4.1 Unless agreed to the contrary by formal consent, the carriage of the goods and/or services specified in the purchase- and/or service order and services rendered hereto are for the account and risk of the Supplier until completion of delivery as defined in article 5.5. 4.2 The Supplier shall be obliged to take out a transport insurance that insures him adequately against all current risks of transport, irrespective of whether this carriage is effected by air, by rail, by road or via ocean or inland shipping. The Supplier must see to it that the Master and/or Owner of the vessel and MSM acting as an agent are mentioned in the policy as a co-insured. If desired by MSM, the policy shall be submitted to it beforehand for inspection and approval. 4.3 In case any payment has been effected on behalf of the Master and/or Owner of the vessel prior to actual delivery, ownership of the goods covered by that payment shall be considered to be transferred to the Master and/or Owner of the vessel at the moment of payment by transfer of possession of the goods. The Supplier is obliged to identify and keep identifiable these goods for the benefit of the Master and/or Owner of the vessel. The Supplier shall serve as holder or bailee to the Master and/or the Owner of the vessel in respect of the goods present at the Supplier’s premises. This article 4.3 does not prejudice to article 4.1 and article 5 (including but not limited to article 5.5). Article

RISK AND TRANSFER OF TITLE. 4.1 Unless agreed to the contrary by formal consent, the carriage of the goods and/or services specified in the purchase- and/or service order and services rendered hereto are for the account and risk of the Supplier until completion of delivery as defined in article 5.5. 4.2 The Supplier shall be obliged to take out a transport insurance that insures him adequately against all current risks of transport, irrespective of whether this carriage is effected by air, by rail, by road or via ocean or inland shipping. The Supplier must see to it that the Master and/or Owner of the vessel and MSM MFSG acting as an agent are mentioned in the policy as a co-insured. If desired by MSMMFSG, the policy shall be submitted to it beforehand for inspection and approval. 4.3 In case any payment has been effected on behalf of the Master and/or Owner of the vessel prior to actual delivery, ownership of the goods covered by that payment shall be considered to be transferred to the Master and/or Owner of the vessel at the moment of payment by transfer of possession of the goods. The Supplier is obliged to identify and keep identifiable these goods for the benefit of the Master and/or Owner of the vessel. The Supplier shall serve as holder or bailee to the Master and/or the Owner of the vessel in respect of the goods present at the Supplier’s premises. This article 4.3 does not prejudice to article 4.1 and article 5 (including but not limited to article 5.5). Article.

RISK AND TRANSFER OF TITLE. 4.1 Unless agreed to the contrary by formal consent, the carriage of the goods and/or services specified in the purchase- and/or service order and services rendered hereto are for the account and risk of the Supplier until completion of delivery as defined in article 5.5. 4.2 The Supplier shall be obliged to take out a transport insurance that insures him adequately against all current risks of transport, irrespective of whether this carriage is effected by air, by rail, by road or via ocean or inland shipping. The Supplier must see to it that the Master and/or Owner of the vessel and MSM FMC acting as an agent are mentioned in the policy as a co-insured. If desired by MSMFMC, the policy shall be submitted to it beforehand for inspection and approval. 4.3 In case any payment has been effected on behalf of the Master and/or Owner of the vessel prior to actual delivery, ownership of the goods covered by that payment shall be considered to be transferred to the Master and/or Owner of the vessel at the moment of payment by transfer of possession of the goods. The Supplier is obliged to identify and keep identifiable these goods for the benefit of the Master and/or Owner of the vessel. The Supplier shall serve as holder or bailee to the Master and/or the Owner of the vessel in respect of the goods present at the Supplier’s premises. This article 4.3 does not prejudice to article 4.1 and article 5 (including but not limited to article 5.5). Article

RISK AND TRANSFER OF TITLE. 4.1 Unless agreed to the contrary by formal consent, the carriage of the goods and/or services specified in the purchase- and/or service order and services rendered hereto are for the account and risk of the Supplier until completion of delivery as defined in article 5.5. 4.2 The Supplier shall be obliged to take out a transport insurance that insures him adequately against all current risks of transport, irrespective of whether this carriage is effected by air, by rail, by road or via ocean or inland shipping. The Supplier must see to it that the Master and/or Owner of the vessel and MSM MC acting as an agent are mentioned in the policy as a co-insured. If desired by MSMMC, the policy shall be submitted to it beforehand for inspection and approval. 4.3 In case any payment has been effected on behalf of the Master and/or Owner of the vessel prior to actual delivery, ownership of the goods covered by that payment shall be considered to be transferred to the Master and/or Owner of the vessel at the moment of payment by transfer of possession of the goods. The Supplier is obliged to identify and keep identifiable these goods for the benefit of the Master and/or Owner of the vessel. The Supplier shall serve as holder or bailee to the Master and/or the Owner of the vessel in respect of the goods present at the Supplier’s premises. This article 4.3 does not prejudice to article 4.1 and article 5 (including but not limited to article 5.5). Article